The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.
The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. [...]
Posts Tagged ‘obama’
Aug. trade deficit narrows unexpectedly to $30.7B
October 9th, 2009 by Financial Writer
Tags: economists, exports, Global Economy, obama, oil, recession
more...Banks win round 1 in consumer fight
September 25th, 2009 by Financial Writer
This summer, when Obama administration officials talked about overhauling financial regulation, they threw around a catchy phrase sure to appeal to consumers: “Plain vanilla” mortgages and credit cards.
“Plain vanilla” was used to illustrate the powers of a proposed new consumer agency. The agency could set basic standards — like one-page, easy-to-understand applications for 30-year-fixed mortgages.
Now, [...]
Tags: financial, mortgages, obama, real estate
Volcker: Banks Should Not Trade
September 14th, 2009 by Financial Writer
Banks should not be allowed to own hedge funds or equity funds and their trading activity should be limited, former Federal Reserve Chairman Paul Volcker said in an interview with Il Sole 24 Ore on Thursday.
“A bank that generates the major part of its income from trading should not be allowed to have a banking [...]
Tags: banking, banks, economic, financial, obama
Unions Have Little to Show for Backing Obama
September 14th, 2009 by Financial Writer
Former Pennsylvania coal miner Richard Trumka isn’t president of America’s biggest labor federation yet, but he’s already cranking up rhetoric on issues from healthcare reform to making it easier to unionize.
When President Barack Obama and Democrats in Congress first showed signs of compromise on healthcare reform, the incoming AFL-CIO leader warned lawmakers to keep a [...]
Tags: democratic, financial, obama, president
Fatal error: Cannot redeclare pagenavi_textdomain() (previously declared in /home/moneywor/public_html/wp-content/themes/front-page/wp-pagenavi.php:34) in /home/moneywor/public_html/wp-content/themes/front-page/wp-pagenavi.php on line 35